Stocks at origin high whereas at destination they are low

By all accounts stocks within Ethiopia remain very high, agrabes have stopped buying from farmers and exporters are not buying from agrabes, overseas buyers are totally absent so all trading is at a gridlock. Whereas there have been some small improvements in quality on the Lekempti coffees all other qualities are very poor. Washed coffees are still presenting high moisture content and Natural Djimmah coffee has so many unclean cups that the market for this coffee is restricted to the local market and a few less discerning overseas ones.

Weather is cold and drier than in previous weeks, however this is a more usual weather pattern than the months of high precipitation that we experienced from March to June. Net week we expect to have July shipment figures available. We are not expecting any changes to the slow pace of exports registered in the last few months. Imports of Ethiopian coffee to Japan for the first 5 months are under 40 K bags, the lowest imports from Ethiopia for over 10 years.

Birr 54.82 = USD 1

Have a good weekend.